Bernie Sanders Proposes an American Wealth Fund Based on the Development of Artificial Intelligence.
Senator Sanders is an American national treasure, the only socialist politician in a nation that rejects socialism. The man who never gives up a fight for the American people has a plan.
Like a Timex watch, Sanders Takes a Lickin,’ and Keeps on Ticken.
The definition of a ‘sovereign wealth fund’ is “A state-owned investment fund comprised of money generated by the government, often derived from a country’s surplus reserves, which is invested in various financial assets to benefit the nation’s economy and future generations.”
Lots of countries have them, including the Government Pension Fund of Norway, China Investment Corporation, Abu Dhabi Investment Authority, Kuwait Investment Authority, and Qatar Investment Authority. These funds, and many others like them, are distributed periodically among the citizens of each country.
The United States, the wealthiest nation in the world, does not have one.
In its place, having busied ourselves with more pressing issues, we have the largest national indebtedness among the world’s nations, approaching $40 trillion.
We are also, at least for the present , leaders in the world race for the development of artificial intelligence, and Bernie has a plan for the juxtaposition of debt and wealth.
You will be interested in that, because you have a personal stake in both.
Getting down to the nitty and gritty of artificial intelligence, Bernie claims there is actually nothing artificial about it. It’s based upon supercomputers raking up all the current (and future) knowledge of the world in a pile, much like autumn leaves in a yard.
That’s a task that’s doable, but it takes enormous funding and, much like a poker game, one or two players will take home all the winnings, and the losers will have nothing but empty pockets.
Bernie argues that America is not quite yet a poker game, but it’s dangerously close. He wants the government to replace Las Vegas, with the American public both dealing the cards and raking in the winnings.
That’s how Weath Funds are built, by countries that care to build them
So, just what is the intelligence behind the artificial moniker?
Bernie claims it encompasses “our collective intelligence: our books, songs, artwork, journalism, computer code, scientific research, videos, conversations, images and ideas spanning human history.”
In a nutshell, it’s the entire nut, and squirrels like Elon Musk should not own that nut. It’s in the public domain.
And, that’s not just Bernie’s opinion. According to Sam Altman, the head of OpenAI, his models were trained on our “collective experience, knowledge” and “learnings of humanity.”
And we’re going to allow a couple of billionaires to ‘own that,’ and resell it to us?
According to Sanders, “For the most part, tech oligarchs have fed this knowledge into their A.I. models without permission, without acknowledgment, without compensation. In other words, the creative work of millions of people — writers, artists, musicians, journalists, teachers, scientists and ordinary citizens — has essentially been stolen by some of the wealthiest people in the world.
It’s time for us to reclaim it.”
Continuing, Bernie writes, “That is why I will soon be introducing the American A.I. Sovereign Wealth Fund Act.”
“This legislation would give the public a direct ownership stake in the largest A.I. companies in our country. How? It would create a sovereign wealth fund through a one-time 50 percent tax — not on the profits of OpenAI, Anthropic, xAI and other companies, but paid with something far more valuable than that: the stock.
“If passed, this legislation would do two crucial things. First, it would give the public a direct role in determining the future of this technology. No longer would the future of A.I. and the transformation of human life that it will bring be dictated by a handful of Big Tech oligarchs. The federal government would have the power, through its voting shares and an equal representation on each company’s board, to block decisions that hurt our citizens and to push for policies that help them.
“Second, this legislation would guarantee that the trillions of dollars potentially generated by A.I. are used to improve the lives of all of us — not simply to make the richest people in the world even richer. If the big A.I. companies continue to grow as rapidly as many analysts expect, then the value of the sovereign wealth fund will grow as well — and the benefits to the American people will grow along with it.”
Only one thing stands between this legislation and its passage.
American government is today (and has for generations) been bought and paid for by the Billionaire Class.
Inconveniently, they are the only impediment to legislation that would stop the steal of humanity’s collective knowledge, for their private gain.
I’m too small a voice. All my wrenches are still in the hands of the monkeys.
Guaranteeing this legislation will require class actions on a scale beyond my means or capacity.
Someone out there must take up Bernie Sander’s cause…
“The future of A.I. and the fate of humanity must not be decided behind closed doors in Silicon Valley. It must not be dictated by billionaires seeking to maximize their power and profit. It must be decided by workers, parents, teachers, artists, scientists, communities and the American people. It’s our future. We must decide it.”
…Bernie Sanders…